Packaging Corporation of America (PKG) Stake Lifted by DekaBank Deutsche Girozentrale

DekaBank Deutsche Girozentrale raised its position in Packaging Corporation of America (NYSE:PKG) by 0.3% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 358,190 shares of the industrial products company’s stock after purchasing an additional 1,158 shares during the period. DekaBank Deutsche Girozentrale owned 0.38% of Packaging Corporation of America worth $39,971,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the business. Vanguard Group Inc. lifted its holdings in Packaging Corporation of America by 2.3% in the 2nd quarter. Vanguard Group Inc. now owns 8,430,256 shares of the industrial products company’s stock valued at $939,046,000 after purchasing an additional 191,348 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in Packaging Corporation of America by 1.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 4,097,547 shares of the industrial products company’s stock valued at $456,426,000 after purchasing an additional 62,507 shares in the last quarter. State Street Corp lifted its holdings in Packaging Corporation of America by 1.0% in the 2nd quarter. State Street Corp now owns 3,336,381 shares of the industrial products company’s stock valued at $371,683,000 after purchasing an additional 31,624 shares in the last quarter. Wells Fargo & Company MN lifted its holdings in Packaging Corporation of America by 4.1% in the 2nd quarter. Wells Fargo & Company MN now owns 2,459,871 shares of the industrial products company’s stock valued at $274,005,000 after purchasing an additional 96,282 shares in the last quarter. Finally, First Eagle Investment Management LLC lifted its holdings in Packaging Corporation of America by 17.9% in the 3rd quarter. First Eagle Investment Management LLC now owns 2,100,096 shares of the industrial products company’s stock valued at $240,839,000 after purchasing an additional 319,452 shares in the last quarter. Institutional investors own 88.02% of the company’s stock.

Packaging Corporation of America (PKG) traded up $0.30 during midday trading on Tuesday, hitting $112.66. The stock had a trading volume of 201,352 shares, compared to its average volume of 906,605. The company has a debt-to-equity ratio of 1.30, a quick ratio of 1.49 and a current ratio of 2.45. The stock has a market cap of $10,404.03, a price-to-earnings ratio of 19.35, a PEG ratio of 2.21 and a beta of 1.82. Packaging Corporation of America has a fifty-two week low of $83.14 and a fifty-two week high of $120.75.

Packaging Corporation of America (NYSE:PKG) last issued its quarterly earnings data on Wednesday, October 25th. The industrial products company reported $1.68 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.69 by ($0.01). The business had revenue of $1.64 billion for the quarter, compared to analyst estimates of $1.64 billion. Packaging Corporation of America had a return on equity of 29.38% and a net margin of 8.18%. The firm’s revenue for the quarter was up 10.5% compared to the same quarter last year. During the same period in the previous year, the business posted $1.30 earnings per share. equities research analysts expect that Packaging Corporation of America will post 5.99 earnings per share for the current fiscal year.

In related news, SVP Thomas W.H. Walton sold 6,027 shares of the firm’s stock in a transaction dated Thursday, November 2nd. The stock was sold at an average price of $116.15, for a total transaction of $700,036.05. Following the completion of the sale, the senior vice president now directly owns 32,690 shares of the company’s stock, valued at approximately $3,796,943.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Thomas A. Hassfurther sold 6,000 shares of the firm’s stock in a transaction dated Tuesday, September 12th. The stock was sold at an average price of $117.94, for a total value of $707,640.00. Following the sale, the vice president now directly owns 155,071 shares of the company’s stock, valued at $18,289,073.74. The disclosure for this sale can be found here. Insiders have sold a total of 18,177 shares of company stock valued at $2,127,472 over the last three months. Corporate insiders own 1.20% of the company’s stock.

WARNING: “Packaging Corporation of America (PKG) Stake Lifted by DekaBank Deutsche Girozentrale” was first reported by Community Financial News and is the property of of Community Financial News. If you are accessing this news story on another publication, it was illegally copied and republished in violation of U.S. and international trademark & copyright laws. The original version of this news story can be read at https://www.com-unik.info/2017/11/14/packaging-corporation-of-america-pkg-stake-lifted-by-dekabank-deutsche-girozentrale.html.

A number of research analysts have weighed in on the company. Stephens assumed coverage on Packaging Corporation of America in a report on Tuesday, October 24th. They issued an “overweight” rating and a $130.00 price objective on the stock. Zacks Investment Research lowered Packaging Corporation of America from a “buy” rating to a “hold” rating in a report on Monday, October 30th. KeyCorp restated a “hold” rating on shares of Packaging Corporation of America in a report on Sunday, October 29th. Barclays PLC raised their price objective on Packaging Corporation of America from $108.00 to $110.00 and gave the company an “equal weight” rating in a report on Monday, October 30th. Finally, Deutsche Bank AG restated a “hold” rating and issued a $120.00 price objective (up previously from $94.00) on shares of Packaging Corporation of America in a report on Monday, October 9th. Eight analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $117.36.

Packaging Corporation of America Profile

Packaging Corporation of America (PCA) is a producer of containerboard products and uncoated freesheet. The Company operates through three segments: Packaging, Paper, and Corporate and Other. The Packaging segment produces a range of corrugated packaging products. The Paper segment manufactures and sells a range of papers, including communication-based papers and pressure sensitive papers.

Want to see what other hedge funds are holding PKG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Packaging Corporation of America (NYSE:PKG).

Institutional Ownership by Quarter for Packaging Corporation of America (NYSE:PKG)

What are top analysts saying about Packaging Corporation of America? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Packaging Corporation of America and related companies.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit